Arsenal have reportedly had their €100m (£87m) approach for Kylian Mbappe turned down.
Monaco are attempting to keep hold of their prized asset and have also allegedly rebuffed a £105m approach from Real Madrid.
According to the Telegraph , an unnamed third club have also seen a sizeable approach rejected.
Europe's elite clubs have been linked with Mbappe's signature.
Both Manchester clubs, Chelsea, Bayern Munich and Paris Saint-Germain have all had their names touted.
But Monaco appear to be putting up a stern fight to keep hold of Mbappe.
Despite having already rejected world record bids, further offers are expected to be made for the 18-year-old's services which could turn their head.
A new contract is expected to be offered by Monaco.
Mbappe still has two years left on his current contract – and the new French champions are trying to persuade him to stay for at least one more season.
Mbappe said earlier this week he's 'not afraid' to depart Monaco for pastures new with some of Europe's biggest clubs keeping tabs on his situation.
"Why play less?" he said. "I'll have time to reflect on that and, no, I'm not afraid to leave."
"I dreamed of Zidane the player, not the coach," Mbappe added.
"Zidane the player made me dream and still makes me dream when I watch videos of him.
"The coach is completely different, he is a great coach who has quickly achieved results and continues to develop."